IRA deregisters 20 insurance brokers over non-compliance
The deregistration was carried out in accordance with Section 196(A) of the Insurance Act, which provides the legal framework for removing brokers from the industry’s official register.
The Insurance Regulatory Authority (IRA) has cancelled the licences of 20 insurance brokerage firms, effectively banning them from carrying out any insurance-related business in Kenya.
In a notice issued on Friday, July 18, the Authority announced that the affected firms officially ceased operations as of June 30 this year.
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The deregistration was carried out in accordance with Section 196(A) of the Insurance Act, which provides the legal framework for removing brokers from the industry’s official register.
“The Insurance Regulatory Authority (IRA) hereby notifies the public of the de-registration of twenty insurance brokers under Section 196 of the Insurance Act,” read the notice.
“Under Section 196 of the Insurance Act, the insurance brokers whose names appear below have ceased transacting insurance business with effect from June 30, 2025,” it added.
Among the firms listed in the notice are African Continent Insurance Limited, Andalus Insurance Brokers Limited, Allied Insurance Brokers Limited, Alpha-Levits Insurance Brokers Limited, Arkchoice Insurance Brokers Limited, and Berkeley Insurance Brokers Limited.
Others include Masumali Meghji Insurance Brokers Limited, Nexus Insurance Brokers Limited, Online Insurance Brokers Limited, Real Alliance Insurance Brokers Limited, Solian Insurance Brokers Limited, and Swinton Insurance Brokers Limited.
The Insurance Act requires that any deregistration—whether voluntary or enforced—be formally communicated to the Commissioner of Insurance and the public to ensure transparency and accountability in the sector.
While the Authority did not provide specific reasons for the deregistration of the 20 brokers, such action is often taken due to non-compliance with the law.
These may include failure to remit client premiums, not renewing licences, breaching regulatory conditions, or failure to maintain the required capital levels. Other reasons could involve structural changes such as mergers or acquisitions.
The move is part of the IRA’s broader efforts to clean up the insurance industry and enforce compliance with statutory requirements.
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